Air India on Wednesday claimed 24% increase in passenger revenue during April-August as compared to same period last year---a performance expected to help it secure government fund.
"The passenger revenue grew by Rs 830 crore in the first five months of the fiscal on the back of surge in traffic," official sources said.
A ministerial panel to oversee the performance of the airline has linked any further monetary help to the carrier with its ability to cut cost and increase revenue.
The civil aviation ministry is expected to approach the Union Cabinet for further equity infusion into Air India soon to tide over the financial crisis. The airline is estimated to have an accumulated loss of over Rs 12,000 crore as on March 2010.
Almost all the domestic carriers have witnessed a sharp increase in passenger numbers resulting into significant improvement in their yield. The three full-service carriers Air India, Jet Airways and Kingfisher Airlines- have seen improvement in yield on international sectors also. Air India's international yields increased by 13.6% during April-August with domestic yield registering 14.9% growth.
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